Too many consumers leaving banking details on multiple mobile devices

Jamie Hinks, 19th August 2014

Almost half of consumers are risking leaking confidential personal data and valuable banking details to hackers by remaining logged in across multiple mobile devices.

New research carried out by Intercede showed that a whopping 76 per cent remain logged on to social media accounts on multiple mobile devices and 45 per cent admitted the same is true for mobile banking accounts.

“Keeping your Facebook, Gmail, shopping and financial accounts automatically logged in might be convenient for consumers, but it’s leaving the back door wide open to hackers. Consumers are more wary about clicking ‘Remember me’ when it comes to online banking and financial apps, but cyber criminals don’t necessarily need access to your bank account or credit card details to commit identity theft,” said Richard Parris, CEO of Intercede.

The survey, which covered 2,000 consumers, is part of a report entitled “The Rise of the Identity Centric Economy” and it also found that 54 per cent stay logged in to PayPal on multiple devices and 46 per cent stay logged in to Amazon and other shopping sites.

Automatic log-in is another problem and 37 per cent admitted to selecting the option for Amazon and other online shopping sites, 23 per cent for mobile banking and 27 per cent for PayPal.

Setting a PIN code on a mobile device is done by 53 per cent of people, however, of all those surveyed, 28 per cent admitted knowing a PIN code for a friend, family member or colleague’s mobile device.

The passwords themselves are also often unsecure as three in five admitted to using memory as the only method to being able to recall a passwords thus suggesting customers are utilising memorable combinations or the same password across multiple sites.